trust fund, also known as investment fund, is a kind of collective investment mode with * * * benefits and * * * risks: it refers to a collective investment trust system in which most investors who are uncertain in society gather unequal funds through contracts or corporate forms by issuing fund vouchers such as income vouchers, fund units and fund shares to form a certain scale of trust assets, which are handed over to specialized investment institutions for diversified investment according to the principle of asset portfolio, and the benefits are shared by investors in proportion to their capital contribution and bear the corresponding risks.

collective investment 2. Expert management, expert operation 3. Portfolio investment and risk diversification 4. Separation of asset management from asset custody 5. Enjoy the benefits and bear the risks. For that purpose of pure investment. Strong liquidity. There are broad and narrow definitions of funds. In a broad sense, funds are the general names of institutional investors, including trust and investment funds, unit trust funds, provident funds, insurance funds, retirement funds and funds of various foundations.

funds in the existing securities market, including closed-end funds and open-end funds, have the characteristics of profitability and shallow value-added. From the perspective of accounting, fund is a narrow concept, which means funds with specific purposes and uses. Because the investors of the government and institutions do not require investment returns and investment recovery, but require the funds to be used for designated purposes according to the law or the wishes of the investors, funds are formed.